XML 97 R53.htm IDEA: XBRL DOCUMENT v3.22.4
Debt (Details Textual)
2 Months Ended 3 Months Ended 12 Months Ended
Feb. 28, 2023
USD ($)
Jun. 30, 2022
USD ($)
Dec. 31, 2022
USD ($)
Ratio
Property
May 02, 2022
USD ($)
Dec. 31, 2021
USD ($)
Debt Instrument [Line Items]          
Hedged Asset, Fair Value Hedge     $ 830,000,000    
Secured Debt     1,985,430,000   $ 2,294,739,000
Revolving credit facility borrowings     $ 462,000,000   $ 304,000,000
Interest Rate     5.20%    
Minimum [Member]          
Debt Instrument [Line Items]          
Maximum unsecured leverage ratio     0.60%    
Fixed charges coverage ratio | Ratio     1.50    
Secured indebtedness to total assets ratio | Ratio     0.45    
Secured indebtedness to total assets ratio thereafter | Ratio     0.40    
Unsecured Interest Coverage Ratio | Ratio     1.50    
Minimum [Member] | Leverage Ratio [Member]          
Debt Instrument [Line Items]          
Unsecured leverage ratio | Ratio     0.60    
Fixed Rate Property Debt          
Debt Instrument [Line Items]          
Aggregate gross book value     $ 2,000,000,000.0    
Fixed Rate Property Debt | Pledged as Collateral          
Debt Instrument [Line Items]          
Number of apartment homes | Property     23    
Variable Rate Property Debt          
Debt Instrument [Line Items]          
Aggregate gross book value     $ 171,000,000.0    
Variable Rate Property Debt | Pledged as Collateral          
Debt Instrument [Line Items]          
Number of apartment homes | Property     1    
Subsequent Event | Ten Year Fixed Rate Financing [Member]          
Debt Instrument [Line Items]          
Floor interest rate 4.00%        
Payment for borrowings $ 230,000,000        
Revolving credit facility $ 150,000,000        
Interest Rate 4.90%        
Loan borrowed $ 320,000,000        
Loan Term 10 years        
Secured Debt [Member] | Fixed Rate Property Debt | Maximum [Member]          
Debt Instrument [Line Items]          
Interest Rate     5.70%    
Secured Debt [Member] | Fixed Rate Property Debt | Minimum [Member]          
Debt Instrument [Line Items]          
Interest Rate     2.40%    
Secured Debt [Member] | Variable Rate Property Debt          
Debt Instrument [Line Items]          
Hedged Asset, Fair Value Hedge   $ 830,000,000      
Secured Debt [Member] | Floating Rate [Member]          
Debt Instrument [Line Items]          
Debt Instrument All In Cost Rate   4.20%      
Revolving Credit Facility [Member]          
Debt Instrument [Line Items]          
Revolving credit facility       $ 1,000,000,000.0  
Revolving credit facility borrowings     $ 526,900,000    
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]          
Debt Instrument [Line Items]          
Spread on variable interest rate     0.89%    
Term Loan [Member] | Unsecured Debt [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]          
Debt Instrument [Line Items]          
Interest Rate     1.00%